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Post by jeffolie on Aug 5, 2008 8:02:20 GMT -6
Are you buying the silver dip at $16.50?
Silver touched down to about $16.57 on the cash spot market about 6:30 am PST.
In my opinion this is at the bottom of its trading range.
I have been going hog wild on silver coins at ebay. I got 57 coins in just one ebay auction for about $9 per coin. This $9 per coin is the best, lowest price I have achieved. I am buying just about any 90% silver dollar upto but not above $14.00 which includes shipping . I am lucky that in that I am retired because it is very time consuming to find these bargains.
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Post by jeffolie on Aug 6, 2008 6:26:26 GMT -6
It must be true: "Jeffolie Hoard" to be certified by the Hoard association of America.
I am well into six figuires worth of fiat over the years in accumiliation of silver dollars. I talk the talk and walk the walk.
I am planning to accumilate in the expectation that inflation will start to become dangerously high after the events of 2010.
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For the moment, about 5:00 am on Wednesday morning, silver seems to have found support about $16.50 as I expected near the bottom of the trading range.
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Post by graybeard on Aug 6, 2008 7:48:06 GMT -6
Good for you, Jeffo. My silver investments are recent, and in the convenient form of SLV stock. Bought some more yesterday, and it went down after that. I consider it a convenient short term investment until I can get organized to buy the real thing.
GB
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Post by unlawflcombatnt on Aug 6, 2008 15:56:08 GMT -6
Good for you, Jeffo. My silver investments are recent, and in the convenient form of SLV stock. Bought some more yesterday, and it went down after that. I consider it a convenient short term investment until I can get organized to buy the real thing. GB Graybeard, Just thought I should make you aware of a place called California Numismatic in Inglewood, CA. It's the best place I know of to buy and sell precious metal coins. They have an extensive collection of coins on site that you can purchase and take with you when you leave. (i.e., no waiting for delivery of the coins.) If you pay in cash there is no record of your transaction on most coins. Though they have collector's item-types of coins, they also have non-collector item gold, silver, and platinum coins. They are also very willing to buy coins back, and will generally pay cash for them if they have enough cash on hand. You can find more information on them at: www.golddealer.com/
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Post by graybeard on Aug 9, 2008 6:57:58 GMT -6
Thanks, UC. I now have some money freed up from my rollover IRA that I can invest without more tax penalty. Inglewood is such a long trip for an old retar'd; is there no good place in OC?
Looks like you were just on the leading edge of the silver dip, Jeffo. Where's the bottom?
GB
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Post by unlawflcombatnt on Aug 11, 2008 1:59:57 GMT -6
Thanks, UC. I now have some money freed up from my rollover IRA that I can invest without more tax penalty. Inglewood is such a long trip for an old retar'd; is there no good place in OC? Inglewood can be a long a trip. But if you take the 105, and use the carpool lane, you can sometimes make it in around 1/2 hour. I don't know of any local places in Orange County that sell coins for a lower price, or buy them back for as high a price as they do. Monex is one coin shop that's in Orange County. I do know of at least one other, but they're much harder to deal with than California Numismatic.
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Post by xtra on Aug 14, 2008 10:20:55 GMT -6
I go on Ebay everyday looking for coins and havent scene any bargins, even with silver dropping below 15 bucks an oz. Just type in silver bars (the cheapest 100 oz bar you can get is at 1,800) or mecury dime lots and youll see that there still over 1.10 a pcs.
Maybe you just a couple of those "rare moments" on ebay, its not the norm to get the kind of deals your talking about.
I think the sellers on Ebay know what we all know and the government is lying about.
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Post by xtra on Aug 14, 2008 20:06:04 GMT -6
I went on ebay today and saw the completed sales of 100 oz bars, they sold anywhere from 1,650 to 2,300 with the average being about 1,750. silver eagles were still over 20 bucks an oz.
you can get 100 oz bars from Monex for 1,523, but they were all sold out of silver eagles 1800-444-8317
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Post by unlawflcombatnt on Aug 15, 2008 9:25:55 GMT -6
I went on ebay today and saw the completed sales of 100 oz bars, they sold anywhere from 1,650 to 2,300 with the average being about 1,750. silver eagles were still over 20 bucks an oz. you can get 100 oz bars from Monex for 1,523, but they were all sold out of silver eagles 1800-444-8317 The last time I checked, Monex had a real bad rating by the Better Business Bureau -- something like FFF. Monex has little or no gold on its premises, so everything has to be ordered. If you want to buy anything, you have to wait for delivery of it. Ebay can be a profitable way to buy gold. It can also be a complete disaster. Many of the major sellers of gold (or other precious metals) are con-artists. They sell gold that they don't have, and have to go out and buy once you've paid them. Some of these sellers get in trouble and never deliver the coins that you've already paid for. You have to be very careful buying on Ebay. You have to file a complaint with Ebay and PayPal immediately if you even think there is a problem. And never pay for anything with a debit card, a money order, or a cashier's check. Never, ever pay for anything directly. Always use PayPal. Always use a credit card, because you can remove the charge if you don't receive what you've ordered. Paypal will try to trick you into using a debit card if they can. If you buy something, make sure the order says it is coming off of your credit card -- not off your debit card. I've had a lot of experience with Ebay and Paypal. One of the sellers defrauded me on a large purchase. The case ultimately went to the FBI. There were another 20-30 people involved that were also defrauded. The total amount lost by all of us was around $100K. The defrauder(s) were Russians. They were ultimately put on the FBI's 10 most wanted list. In summary, be careful buying merchandise on Ebay. And do use the precautions I'm suggesting.
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Post by xtra on Aug 20, 2008 18:56:48 GMT -6
I went on ebay today and saw the completed sales of 100 oz bars, they sold anywhere from 1,650 to 2,300 with the average being about 1,750. silver eagles were still over 20 bucks an oz. you can get 100 oz bars from Monex for 1,523, but they were all sold out of silver eagles 1800-444-8317 The last time I checked, Monex had a real bad rating by the Better Business Bureau -- something like FFF. Monex has little or no gold on its premises, so everything has to be ordered. If you want to buy anything, you have to wait for delivery of it. monexfraud.com/
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Post by unlawflcombatnt on Aug 22, 2008 1:28:31 GMT -6
xtra, Thanks for the link to Monex. It sounds like Monex deserved its FFF rating by the Better Business Bureau.
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Post by xtra on Aug 23, 2008 20:15:55 GMT -6
xtra, Thanks for the link to Monex. It sounds like Monex deserved its FFF rating by the Better Business Bureau. no problem... my friend told me about the site and said you can get ANY GOLD or SILVER from them, I told him I think he is wrong, so he called them and they said they can sell him anything he wants with no waiting, only 10 day for deleivery. I called the same day only in the PM and they said they could sell me anything too, except silver Eagles, he said they were out. I let my friend know about this and shared your info with him and he found the fraud link. He also paid for a bag of junk silver, for about 10k I think..... I will let you know what happened with that transaction. I reccomed everyone call them, just to listen to their spill......
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Post by jeffolie on Aug 24, 2008 0:24:22 GMT -6
What is the opposite of a 'premium'? That would be a discount.
I am buying 'proof' coins at 50% below The Official Red Book, 2009 edition. Desparate ebay sellers sometimes have an auction that is "Buy it Now or Make An Offer". Well I make low ball offers. And some desparate sellers are taking offers of below 50% when I take a bunch of their inventory.
I loaded up the truck with bargains and then had to reload again.
I am not trying to pick the bottom. I just accumilate. Eventually the government will reinflate. I do not expect a bottom in housing until 2010. After that I expect reinflation to take hold.
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I do not buy enough at any single ebay auction to worry about a BIG fraud. I have won about 15 refunds from PayPal because of bad ebay sellers. PayPal covers losses upto $2000 and the biggest refund I have sought (and I did get the refund) was for $112.50 . I only buy from sellers who take PayPal. After accounting for refunds, I have not lost even a dollar on ebay.
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Post by unlawflcombatnt on Aug 24, 2008 1:17:29 GMT -6
xtra, Thanks for the link to Monex. It sounds like Monex deserved its FFF rating by the Better Business Bureau. no problem... my friend told me about the site and said you can get ANY GOLD or SILVER from them, I told him I think he is wrong, so he called them and they said they can sell him anything he wants with no waiting, only 10 day for deleivery. I called the same day only in the PM and they said they could sell me anything too, except silver Eagles, he said they were out. I let my friend know about this and shared your info with him and he found the fraud link. He also paid for a bag of junk silver, for about 10k I think..... I will let you know what happened with that transaction. I reccomed everyone call them, just to listen to their spill...... Here's the link to Monex: monex.com/My experience with them is that they will deliver what you ordered, but it will take 1-3 weeks before you receive it. But I may have well been the exception. Maybe a lot Monex customers aren't receiving the coins they've already paid for.
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Post by jeffolie on Aug 24, 2008 9:23:22 GMT -6
I have also been buying Franklin Mint sterling silver for its silver content only. I only buy it at a net cost of below melt value. By the way, sterling is 92.5% silver, so take that into consideration when calculating its silver value. Yesterday, I bought 36 ounces at one auction and another 4 ounces from the same seller at well below their melt value.
I am finding bargains but this is a 24/7 effort. With my sniping program going all night, I rarely shut down the computer. The great decline in spot silver is in my humble opinion a great opportunity for 2010 and beyond.
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Post by jeffolie on Aug 25, 2008 10:12:02 GMT -6
It appears that silver has found a temporary support above $12, in the $13 range.
I need to get a bigger truck for loading up on silver bargains. Yesterday, I bought over 100 ounces at below spot including shipping. And I have a target for more for the next two days.
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Post by jeffolie on Sept 6, 2008 15:07:39 GMT -6
With silver returning to the $12 range, I made my last major commitment to buying bulk quanitities of silver this morning. I expect to wrap it all up this coming week. I have found that it has been very difficult to find bargains in the US silver dollar market on ebay. Yet the Franklin Mint sterling silver market has provided me with the vast majority of buying well below spot and in good size. I do not mind giving away this tip as my bulk buying is most likely done and that particular sterling market segment is getting more and more difficult to get below spot, although I did this morning.
Happy silver hunting.
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Post by xtra on Sept 10, 2008 17:41:45 GMT -6
do you have a link?
the best deals ive found on ebay are for certified silver eagles for about 20.00
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Post by jeffolie on Sept 10, 2008 18:31:14 GMT -6
I bought 6 ounces of gold while the spot price was below $750 today. This was a one time event.
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